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| Great White North |
| Canada slashes tens of thousands of jobs in sharp economic shift after Trump imposed tariffs |
| 2025-08-10 |
| [FoxBusinessNews] Canada lost 40,800 jobs in July, partially reversing June's gains Canada shed tens of thousands of jobs in July, dragging the country’s employment rate to its lowest point in eight months as U.S. President Donald Trump’s tariffs rippled through key industries. The labor market’s reversal came just weeks after a surge in hiring. Statistics Canada data, cited by Reuters, showed the economy created 83,000 jobs in June but lost 40,800 in July, erasing nearly half of that gain. The share of working-age Canadians with jobs slipped to 60.7%, while the unemployment rate held steady at a near-multi-year high of 6.9%, according to the outlet. Trump's sectoral tariffs on steel, aluminum and autos have hit the manufacturing sector hard and reduced the hiring intentions of companies, Reuters said, citing statements from the Bank of Canada. As part of a broader "America First" trade policy, Trump introduced sector-specific tariffs in an effort to protect U.S. manufacturing and reduce trade deficits with key partners. Manufacturing employment fell by nearly 10,000 from a year earlier, according to Statistics Canada, Reuters said. Marty Warren, national director of the United Steelworkers union, confirmed to the outlet that about 1,000 of its members have been laid off. Youth workers were hit especially hard. Unemployment among 15- to 24-year-olds jumped to 14.6%, while their employment rate fell to 53.6%, levels unseen since the late 1990s, excluding pandemic years, Reuters added. Despite the setbacks, the national layoff rate stayed at 1.1%, suggesting some stability in other parts of the economy, the outlet said. The Bank of Canada left its benchmark interest rate unchanged this week but reportedly hinted it could move to cut rates if growth continues to falter and inflation remains under control. Oxford Economics economist Tony Davenport expects further job losses ahead, forecasting about 140,000 more layoffs and unemployment climbing into the mid-7% range later this year, according to Reuters. |
| Posted by:Skidmark |
| #7 Thank you, my dear. I found this Wikitubia page on him. Not my kind of thing at all, as far as I can tell — I find it utterly exhausting in a refusal-to-learn kind of way. But I can see where others might enjoy the argument, |
| Posted by: trailing wife 2025-08-10 23:11 |
| #6 @#4 trailing wife, just do a search on Vaush, your curiosity will be rewarded. |
| Posted by: Gerthudion Bucket9415 2025-08-10 21:51 |
| #5 How many government employees laid off? |
| Posted by: Gloluns Turkeyneck4904 2025-08-10 21:06 |
| #4 What is a Vaushnik, Jeatle the Limpid? The internet yields no clues to my quick search |
| Posted by: trailing wife 2025-08-10 21:06 |
| #3 Yoiks! What kinda way is that for a Canuckistani man of labor to talk, Mr. McCoy? Did we all imagine it, or weren't you, mere moments ago, an admirably sincere and committed Vaushnik? Might help tie your various personae together for confused readers if you had a nice theme song to play behind every post. |
| Posted by: Jeatle the Limpid7284 2025-08-10 16:17 |
| #2 I won't be happy until we've done this to every country in the world. Oh boo-hoo, they're losing their jobs to Americans! |
| Posted by: Elmomoter Mussolini9149 2025-08-10 10:47 |
| #1 Economies crash slowly then all at once. |
| Posted by: Super Hose 2025-08-10 10:10 |